Question
Following is the detail of opening WDV of assets as on July 1, 2018: Building Rs.860000 Plant and machinerty 570000 Furniture and fitting 49000 Computer
Following is the detail of opening WDV of assets as on July 1, 2018:
Building Rs.860000
Plant and machinerty 570000
Furniture and fitting 49000
Computer 61000
Vehicle 52000
Following additions are made during the year to fixed assets:
Assets Date of Purchase Cost
Building 1.5.2016 165000
Plant and machinery (new from Germany) 17.6.2017 27000
Plant and machinery (Old from USA) 16.6.2016 41000
Plant and machinery (old from Brazil) 16.5.2017 47000
Plant and machinery (old from Pakistan) 25.6.2016 33000
Computer 14.7.2016 31000
Vehicle 16.7.2017 16000
Following assets are dispose off during the year:
WDV on
Date of Sale Sale Proceeds
Vehicle 15.8.2017 32000
Plant and machinery 15.8.2017 63000
Computer 15.8.2017 18000
Required: Calculate tax depreciation?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started